Stocks Higher, Huge Hedge Fraud, Bush Saves
Stocks closed higher today despite the unveiling of the largest fraud in financial history and gridlocked congress on the automaker rescue plan. Bernie Madoff admitted to a $50 billion dollar fraud with his firms, Madoff Investment Securities and a separate advisory company. Bush declared that he would step into the fray to save the ailing automakers despite a congressional gridlock. The White House states that a new, improved rescue plan will be presented in the near future. The DJIA added +64.59 to 8629.68, the Nasdaq rose+32.84 to 1540.72 and the S&P 500 climbed +6.14 to 879.73.
General Motors
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Legg Mason
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Waters Corp
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Transocean
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Oil fell $1.70 to $46.60, gold gave back $6.10 to $820.50 and the fear index VIX 2.69% to 54.28.
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